Key Global Events

The two-day FED meeting officially begins, ending tomorrow with the interest rate hike decision and monetary policy statements. A 25 basis point hike by the central bank now seems a foregone conclusion; investors will try to figure out from Powell's words tomorrow what to expect in September.

The European Central Bank's decision is expected on Thursday on the interest rate hike. Analysts also estimate a 25 basis point hike for the ECB, even after hawkish comments made by officials.

A mixed start for European stock markets. Milan's FTSE MIB +0.17%, Paris' CAC -0.04%, Madrid's IBEX -0.13%, London's FTSE +0.24%. Wall Street futures trade above parity at the opening of European stock markets. Dow Jones +0.01 %, S&P500 +0.09% and Nasdaq +0.20%.

Forex & Commodities

The Euro and Sterling trade stable above parity at the start of trading. The EURUSD cross +0.18 percent, GBPUSD +0.19 percent. Among commodities, energy and metals are up. Oil trades around $79 (+0.22%). Gold trades at parity at $1962 an ounce (+0.01%).

Index

Asian stock markets were trading mixed. Tokyo's benchmark Nikkei 225 index closed trading below par, -0.13%. China's Hang Seng index put in a rally, gaining +4.25% The strong gains depended on the Politburo meeting, where the country's top officials pledged to work further to strengthen the economy.

Global Macroeconomic Data
EUR- at 10 a.m. the IFO index on German business confidence will be released. Data expected to fall to 88.
US- At 4 p.m. the consumer confidence report will be released. The figure compared to July is expected to rise to 111.5.